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Bank Account That Pays 200x MORE Interest

2 pointsby zkarover 7 years ago

2 comments

SEMWover 7 years ago
I&#x27;m confused. They say they can give more interest because they don&#x27;t have the costs of traditional banks. But then in the FAQ, they say that they&#x27;re a middleman for a bank acct provided by a traditional bank (&quot;Your money stays in an FDIC-insured deposit account provided by Beam&#x27;s bank sponsor&quot;), so the &#x27;no costs&#x27; explanation makes no sense, they&#x27;re adding an extra layer.<p>So where does the extra money come from? &quot;Beam makes money by providing value-added services to our partnering bank and other financial service partners in the banking ecoysystem&quot;.<p>Well, that&#x27;s... nonspecific. What services? What&#x27;s the actual thing they&#x27;ll be making money from? Why are they being vague about it? This smells of the nominal customer actually being the product, unroll.me style
gjvcover 7 years ago
What credentials are there to prove that this is a legitimate outfit?
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